A day after budget, Sensex loses 840 points, Nifty nearly 300

The Nifty fell 190.40 points, or 1.73% at the day's low of 10,826.50 in mid-morning trade, its lowest intraday level since 19 January 2018.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 35,707.60 points, traded at 35,673,39 points (09 18 AM) - down 233.27 points or 0.65 per cent - from its previous day's close.

A total of 11 stocks registered a fresh 52-week high in trade today, while 79 stocks touched a new 52-week low on the NSE.

The "falling points" effect was also felt on the Nifty which also fell down around 0.54% same time the BSE Sensex faced the jolt.

In a post-market conference, the government, however, clarified that all LTCG tax-related rules would apply to foreign funds also.

European shares were trading lower for the fifth day running as the USA government bond sell-off entered a second session on optimism over global growth and rising expectations of inflation. The government in budget projected a fiscal deficit of 3.5 per cent of GDP for current fiscal against the earlier target of 3.2 per cent which also accelerated pace of selling by participants. The Centre on Thursday introduced a long-term capital gains tax of 10 per cent on stock market gains exceeding Rs 1 lakh, resulting in volatility in forex market.

The BSE market breadth was bullish with 1,495 advances and 636 declines. "By removing exemption of long term capital gains on transfer of shares, this avenue may not be a preferable option any more". The BSE Mid-Cap index was down 2.66% while the BSE Small-Cap index was down 3.37%.

According to market observers, expectation of sops from the Union Budget, along with positive Asian markets and healthy buying in consumer durables, capital goods and banking stocks, lifted investors' risk-taking appetite.

All the sectoral indices ended in the red.

Global markets were also trading in the negative after most of the USA stock indices fell due to political crisis and growth concerns.

Popular news

Akufo-Addo Meets Macron In Senegal
The objective of the conference is to raise hundreds of millions of dollars for education in the poorest of nations. President Macron also tweeted to reaffirm his commitment to Rihanna's cause, saying, "When I commit, I deliver".

Go Red For Women Campaign
We spend Heart Month focusing on women and heart disease and encourage everyone to Go Red to raise awareness. Did you wear red on Friday? Davidson, 49, has been involved with Go Red for Women for the past nine years.

Jose Mourinho Gives Marouane Fellaini Injury Update
Alexis Sanchez celebrates scoring on his home debut for Manchester United in a 2-0 win over Huddersfield Town . Pogba was introduced from the bench for Lingard in the 65th minute and United's second goal soon followed.

U.S. stocks dive amid rate hike fears; Dow drops 2.5%
The index's five-day rout reached 3.9 percent - marking its first pullback of at least that much in a record 404 days. The materials group, which includes precious and base metals miners and fertilizer companies, lost 2.5 per cent.

6 more weeks of winter according to Phil the groundhog
According to legend , if the rodent emerges from his dwelling and sees his shadow , six more weeks of winter should be expected. The Stormfax website researched all the predications since 1887 and found that he has seen his shadow 104 times (79 percent).

Four people have been injured in a drive by shooting in Italy
The suspect, Innocent Oseghale, who was denied asylum previous year but has remained in Italy, has refused to talk to police. The teen's remains were found on Wednesday in two suitcases, two days after she walked away from a drug rehab community.